Electric Two-wheel Car Maker Lingyun Wins USD 8-digit Series A
Tencent Tech, 7/20/15
Beijing-based smart vehicle developer Lingyun Smart Technology has announced the completion of USD 8-digit Series A funding from several investors, including Beijing-based angel investment fund Geek Bang, China Broadband Capital, Sequoia Capital China, ZhenFund and Beijing-based private equity fund Hillhouse Capital Management.
Lingyun has stated that its two-wheeled (one in front and one in back) car uses mechanical gyroscopes to maintain its balance during high-speed travel. If any tilt or imbalance is detected, the Lingyun balancing system automatically rights the vehicle. Furthermore, Lingyun's electric cars are half the weight and size of regular cars while sporting twice the range of Tesla cars. In addition, batteries for these cars can be detached and recharged similarly to cellphones, without the need for a special charging station.
Keywords: Lingyun VC Geek Bang hardware funding Sequoia Capital Hillhouse Capital China Broadband Capital ZhenFund smart vehicle electric vehicle automobile